The Great Update Rebate

Important Update: 05/20/2019

Please note that the Great Update Rebate funding has been fully allocated at this time; and applications are not being accepted.

If you would like to be placed on a list in case of changes and/or cancellations, please call 972-208-8150, or email greatupdaterebate@plano.gov and include your name, contact info, and property address. If an opening becomes available, all persons on the list will be contacted. Appointment(s) will be scheduled on a first come, first served basis. Only completed applications will be processed.

PROGRAM NOTICE:

Any deposits or down payments paid, and/or any work started or completed prior to an approved application, completion of a city inspection, and issuance of a Notice-to-Proceed will not be eligible for the Great Update Rebate. There are no exceptions for this policy.

Program Details

The Great Update Rebate Program was created to assist Plano homeowners with the financial burden of caring for older homes in the City. This popular program won the 2016 City Livability Award from the U.S. Conference of Mayors. More than $2,500,000 has been dedicated to this program since inception (2014), which will be distributed to program participants in the form of a rebate. Enter your address on the interactive map Opens a New Window. to see if your property is eligible for The Great Update Rebate program.

Eligible Properties

Single family houses, duplexes, townhouses and condominiums qualify

House is 35 years or older

Any occupancy and ownership qualifies (Owner-occupied, tenant-occupied, or vacant)

Current on taxes and insurance

The County Appraisal District (CAD) Opens a New Window. appraised market value of the property must be less than or equal to 85% of the FHA single-family mortgage limit for Collin County for the current year. Year 2019 FHA limit of $395,600 * 85% = $336,260 maximum property value for 2018.

Eligible Improvements

Both interior and exterior improvements qualify, with exceptions noted below under “INELIGIBLE”

Minimum property improvements must be at least 10% of the CAD appraised market value or $20,000, whichever is less. For example, a $150,000 property must have a minimum investment of $15,000 to qualify. A $250,000 property must have a minimum investment of $20,000 to qualify.

Qualified updates may start only after receiving a Notice To Proceed from the City (this includes deposits, down payments and purchased items).

Complete within three months of start, although extensions are allowed with demonstrated need

Must result in a livable unit

Repairs to individual condominium units not covered by the property owner association

Landscaping is eligible only per plan approved by the City’s Landscape Architect

INELIGIBLE Improvements

New pools, hot tubs, spas and water features

Any landscaping plan that includes the following:

Plants that are not native or naturalized; prefer Texas Smartscape plants

Irrigation system that does not allow plants to become established under current water restrictions at the time of plan approval; may require drip irrigation or soaker hoses